Altice USA (NYSE:ATUS) Announces Earnings Results

Altice USA (NYSE:ATUS) issued its quarterly earnings results on Monday. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13), Briefing.com reports. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS.

Altice USA Stock Performance

Shares of Altice USA stock traded up $0.08 during mid-day trading on Wednesday, hitting $2.61. 6,110,012 shares of the stock were exchanged, compared to its average volume of 3,483,702. Altice USA has a 12 month low of $1.52 and a 12 month high of $3.66. The company has a 50-day simple moving average of $2.31 and a 200 day simple moving average of $2.12. The company has a market capitalization of $1.20 billion, a P/E ratio of -7.04, a P/E/G ratio of 9.87 and a beta of 1.52.

Insiders Place Their Bets

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now owns 38,055,771 shares of the company’s stock, valued at $932,366,389.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,026,135 shares of company stock valued at $98,640,308 in the last 90 days. 52.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ATUS has been the topic of several research reports. TD Cowen dropped their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday. UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.12.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.